Avoid Credit Card Debt
by S.McMinn
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A lot of individuals
think that having a credit card will cause
problems in the future. If done correctly
having a credit card is probably the cheapest
way of borrowing money without taking out
a personal loan.
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If you apply for a
credit card correctly. Usually credit cards are
used for large purchases and not just only for
buying groceries or gas.
Before applying for
a credit card do some research on the card you
probably can get one that offers 0% on purchases
and balance transfers.
Before applying for
a credit card decide if you think that you will
have to make a BIG purchase in the future, if
that will happen and you have no other options
of paying for the purchase.
If you get a credit
card and you start buying things that you don’t
need more than likely you will get yourself in
credit card debt.
But remember if you
make late payments or miss payments more than
likely there will be a penalty charge and unfortunately
these are usually high fees.
So keep in mind before
getting a credit card read the fine print and
know the terms of agreement and figure out a budget
for yourself for repayment plans.
Also use your credit
card responsibly and don’t spend more than
you need to, be smart and you won’t have
to worry about credit card debt. Golden rule,
the more you borrow the more you have to pay back.
Just remember do not
be tempted to get another credit card to borrow
your way out, this may cause more problems in
the long run.
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